(1) the assets of the BRRD undertaking are or there are objective elements to support a determination that the assets of the BRRD undertaking will, in the near future, be less than its liabilities;

(2) the BRRD undertaking is or there are objective elements to support a determination that the BRRD undertaking will, in the near future, be unable to pay its debts or other liabilities as they fall due; or

A BRRD undertaking, which is a CRR firm, must notify the PRA immediately if its management body considers that the firm is failing or there are objective elements to support a determination that the firm will, in the near future, fail to satisfy one or more of the threshold conditions, including as a result of the firm having incurred or being likely to incur losses that will deplete all or a significant amount of its own funds.